Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for FB Financial (NYSE:FBK) Stock

FB Financial (NYSE:FBK) had its target price boosted by Keefe, Bruyette & Woods from $50.00 to $58.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 2.38% from the stock’s current price.

Several other brokerages have also issued reports on FBK. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research note on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.20.

FB Financial Stock Performance

NYSE:FBK opened at $56.65 on Wednesday. FB Financial has a 52 week low of $33.35 and a 52 week high of $58.88. The firm’s fifty day moving average is $51.45 and its 200-day moving average is $45.46. The firm has a market cap of $2.64 billion, a P/E ratio of 24.74 and a beta of 1.15.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, sell-side analysts anticipate that FB Financial will post 3.38 earnings per share for the current year.

Insider Buying and Selling at FB Financial

In related news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James W. Ayers acquired 1,000 shares of FB Financial stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $57.15 per share, with a total value of $57,150.00. Following the completion of the transaction, the insider now directly owns 10,909,841 shares in the company, valued at $623,497,413.15. This represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 13,000 shares of company stock worth $658,460. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of FBK. Dimensional Fund Advisors LP lifted its holdings in FB Financial by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after acquiring an additional 106,553 shares during the period. Millennium Management LLC raised its stake in shares of FB Financial by 259.9% during the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after purchasing an additional 85,620 shares during the period. Salzhauer Michael purchased a new position in shares of FB Financial in the 2nd quarter worth about $2,596,000. Wasatch Advisors LP grew its position in FB Financial by 4.7% during the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock valued at $57,529,000 after buying an additional 55,071 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. purchased a new stake in FB Financial during the third quarter worth about $1,935,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.